By Duncan S.B. No. 449
77R5049 JSA-F
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the creation and administration of the research
1-3 university fund and to eliminating the transfers to the higher
1-4 education fund.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Subtitle H, Title 3, Education Code, is amended
1-7 by adding Chapter 154 to read as follows:
1-8 CHAPTER 154. RESEARCH UNIVERSITY FUND
1-9 Sec. 154.001. PURPOSE. The purpose of the research
1-10 university fund is to provide excellence funding to eligible Texas
1-11 public research institutions of higher education to allow Texas to
1-12 remain at the forefront of scientific and technological innovation
1-13 by developing a highly skilled workforce and fostering sustained
1-14 scientific innovation and commercialization of technology.
1-15 Sec. 154.002. DEFINITIONS. In this chapter:
1-16 (1) "Coordinating board" means the Texas Higher
1-17 Education Coordinating Board.
1-18 (2) "Eligible institution" means a general academic
1-19 teaching institution, as that term is defined in Section 61.003,
1-20 that:
1-21 (A) is eligible to participate in the funding
1-22 provided by Section 17(a), Article VII, Texas Constitution, and is
1-23 not eligible to participate in funding from the available
1-24 university fund under Section 18, Article VII, Texas Constitution;
2-1 (B) awarded at least 50 doctorate or equivalent
2-2 degrees in at least two of the preceding four academic years; and
2-3 (C) received at least $15.5 million in federal
2-4 funds to support research activities of the institution in the most
2-5 recent academic year for which that information is available to the
2-6 coordinating board.
2-7 Sec. 154.003. RESEARCH UNIVERSITY FUND. (a) The research
2-8 university fund is a fund outside the state treasury in the custody
2-9 of the comptroller.
2-10 (b) Each state fiscal year, the legislature may appropriate
2-11 not less than $50 million to the research university fund.
2-12 (c) The coordinating board shall recommend to the
2-13 legislature a method or formula to allocate the money in the
2-14 research university fund to the eligible institutions.
2-15 (d) An amount allocated from the research university fund to
2-16 an eligible institution may be used only to further the purposes of
2-17 this chapter.
2-18 (e) The comptroller shall administer and invest the fund in
2-19 the same manner as the permanent university fund.
2-20 SECTION 2. Section 62.026(b), Education Code, is amended to
2-21 read as follows:
2-22 (b) The fund consists of the money [$50 million] deposited
2-23 in the fund [each state fiscal year] under former Section 62.025
2-24 [of this code] and interest, dividends, and other income earned
2-25 from the investment of the fund.
2-26 SECTION 3. Section 62.025, Education Code, is repealed.
2-27 SECTION 4. Not later than December 1, 2001, the comptroller
3-1 and the Texas Higher Education Coordinating Board shall adopt rules
3-2 necessary to administer Chapter 154, Education Code, as added by
3-3 this Act.
3-4 SECTION 5. This Act takes effect immediately if it receives
3-5 a vote of two-thirds of all the members elected to each house, as
3-6 provided by Section 39, Article III, Texas Constitution. If this
3-7 Act does not receive the vote necessary for immediate effect, this
3-8 Act takes effect September 1, 2001.